2021 Toyota Rav4 XLE Hybrid

Ask the Hackrs
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Hey there!! Long time lurker, first time poster(please don’t eat me alive, I’m new) :joy:

Currently nearing the end of my lease on a 2017 Nissan Rogue SV Rogue One Edition.

I’m looking to lease a 2021 Toyota Rav4 XLE Hybrid. From what I’ve seen here - most people don’t recommend leasing this, but I haven’t been able to find any posts about why?

That being said, using the calculator I was able to generate these figures.

MSRP: $33,160

Length of Lease: 36 months
Miles: 12,000
Residual: 63%
Money Factor: .0012

Acquisition Fee: (according to my most local dealership) $700
Dealer Fee: $85
Government Fees: $400
Sales Tax: 9%

The dealer fee and government fees were already in the calculator, but I’m not sure where to get those figures. I’d like to know what others are paying for comparable models. Is $300/month reasonable for this? What other terms should I be negotiating?

**Again, I’m very new. If there are any numbers I missed or more info I could provide to help with answers - let me know! I appreciate all of your insight.

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Others don’t recommend leasing them because they dont lease well… Toyota has no problem selling these so they put minimal incentives on them

$300 a month is not realistic on these unless you are putting a very heavy downpayment, like I said before they dont lease well

Also you would be better off leasing the Non-Hybrid one, typically they are discounted more and the gas savings from the Hybrid definitely doesn’t justify the payment difference

1 Like
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Thank you! May I ask – I’m showing lease specials on the 2020 gas and hybrid models. I’m assuming the hybrid is included in the incentive because it isn’t the latest model.

I have driven both, and I prefer the ride of the hybrid. But if the hybrid doesn’t have a significant impact to fuel expenses - I suppose it doesn’t really matter.

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MF is way too low
Residual seems to be right

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Does it come with GAP? Toyota’s don’t as a default.

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No GAP for sure

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Is GAP really necessary?

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Depends,
Year 1? Yes. 2 and 3? Probably not.
Year 1 you drop up 20% (Lower on a toyota) , and means you are exposed.

Most leasing companies give it included but for some reason Toyota sells it separate (a place for upsells?)

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I would likely wind up purchasing it at the end of lease(only reason I would prefer to lease now is to maintain a lower payment) as my daughter will be driving in ~5/6 years and then my son in 6/7. I feel like this would be a reliable vehicle for her to learn in.

I’d love any suggestions you all might have or even other comparable vehicles to look into. I’d prefer to keep my payment at $300/month.

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Yes, GAP is always necessary on every lease. That’s why USBANK and Ally have them. Only manufacturer that does not have GAP is Toyota.

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Usually the difference in payment between the gas and hybrid doesn’t justify the higher monthly(ie gas savings doesn’t makeup for the higher payment). Don’t lease to buy if you want to keep it, usually negates some rebate money too. Rates are low, just finance it for a longer term.

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Year 1 you crash that car, you owe around $3000 to Toyota (using 10% as approx) , Year 2 you owe them maybe less than $1000.
GAP at your insurance company can be cheaper than $100 yr, I’m using a gapwebsite price.

Under $300 for an XLE hybrid? That’s gonna take a lot of down payment. You sure you need that? CH-R and XLE non hybrid would both be under $300 with min down.

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Thank you for clarifying.

I don’t need the hybrid. My area currently only has incentives for 2020 models.

I’ll keep researching.

Do you all have any alternate suggestions of comparable vehicles?

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That I can’t help you as my Mid Sized SUVs experience is pretty limited to the Rav4 and the CR-V
Lets see if someone else chimes here with other $300 OTD options.

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You should also look at the Honda CRV Ex or EXL among other vehicles … Kia Sorento and Hyundai Santa Fe are both coming out on new platforms so dealers might have some more motivation on the 2020s.

Then you should purchase it brand new (this has been discussed many times before)